TEA President Raja M Shanmugham in a release also thanked her for announcing revised priority sector lending norms for exporters, which will release an additional funding of Rs 36,000 crore to Rs 68,000 crore to them.
Export credit disbursement declined 23% in 2018-19 to Rs 9.57 lakh crore from Rs 12.39 lakh crore in 2017-18.
Doubts expressed in the grouping on India’s future in RCEP as certain govt depts are opposing the pact.
Bhutan, India and Nepal) and ASEAN countries has reached an all-time high, and therefore the trade between the North Eastern Region and neighboring countries through the surface land route must be optimized.
India wants ‘transitional safeguards measures auto-trigger and snapback’ to counter a sudden surge in imports.
Talks are ongoing to negotiate the China-initiated Regional Comprehensive Economic Partnership (RCEP), Piyush Goyal said, without specifying whether India would sign the deal in 2019.
Reports that India will reduce the import Duty on RBD Palmolein to 45% to create a level playing field with Malaysia have the Solvent Extractors' Association (SEA) confused.
India is in talks with the US to resolve bilateral trade differences, including restoration of GSP.
Move to help address India’s concerns after trade deficit with 10-member grouping widens to $22 b in FY19.
The main hurdle for RCEP remains tension between India and China over amount of goods with preferential tariffs.
Chinese Taipei has requested dispute consultations with India regarding duties imposed by India on imports of certain information and communications technology (ITC) goods.
The Regional Comprehensive Economic Partnership (RCEP) agreement is being negotiated among 10 ASEAN members and their six trade partners to create a free trade pact covering a third of the world's economy.
The Department of Revenue imposed the duty after it was recommended by the Commerce Ministry's investigation arm DGTR.
Moving RoSCTL, advance authorisation schemes to revenue dept may help boost slipping exports.
Talks are on for instantly ending tariff on 28% of traded goods, 35% in phases. India is likely to give Asean the steepest cut and China the least.
Currently, the EU permits India to export 10,000 tonne of sugar at concessional duty rates under the CXL quota.
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